Build a BRIC strategy fast, IGD urges industry
IGD expects China’s grocery market will be worth over a trillion euros (€) by 2015. India is predicted to be in third place worth €428bn. Russia, meanwhile, looks set to double in value to €394bn by 2015.
As for Brazil, its grocery market overtook that of France this year and is on target for a value of €330bn by 2015.
Joanne Denney-Finch, chief executive, IGD, is urging companies who do not yet have a strategy for BRIC countries to formulate one fast.
“It is not surprising that the BRIC countries are forecast to be in the top five global grocery markets in the next four years. The effect of the global recession on developed markets has accelerated their relative growth, and the pace at which their economies are developing is phenomenal.”
